INSURANCE
From Times Staff and Wire Reports
Pacific Standard to Sell Stake in Health Care Firm: Pacific Standard Life Insurance Co. said it will sell its 42% stake in the health care company National Heritage Inc. to WelCare International Inc. Pacific Standard has been under the conservatorship of California’s insurance commissioner since 1989. Ed Middleton, conservatorship manager, said the stock sale is part of the insurer’s rehabilitation plan. National Heritage manages 42 long-term care facilities. WelCare International is a closely held Georgia company in the long-term health care industry.
